Millennium Management LLC Sells 87,111 Shares of OGE Energy Corp. (NYSE:OGE)

Millennium Management LLC cut its stake in OGE Energy Corp. (NYSE:OGE - Free Report) by 92.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,532 shares of the utilities provider's stock after selling 87,111 shares during the period. Millennium Management LLC's holdings in OGE Energy were worth $311,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of OGE. Norges Bank acquired a new position in shares of OGE Energy in the 4th quarter worth approximately $68,876,000. Cohen & Steers Inc. acquired a new position in OGE Energy in the fourth quarter worth $43,618,000. T. Rowe Price Investment Management Inc. grew its holdings in shares of OGE Energy by 15.8% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 6,174,558 shares of the utilities provider's stock worth $254,701,000 after purchasing an additional 844,679 shares during the last quarter. Northern Trust Corp grew its holdings in shares of OGE Energy by 29.3% during the fourth quarter. Northern Trust Corp now owns 3,562,014 shares of the utilities provider's stock worth $146,933,000 after purchasing an additional 807,690 shares during the last quarter. Finally, Balyasny Asset Management L.P. increased its stake in shares of OGE Energy by 245.0% in the fourth quarter. Balyasny Asset Management L.P. now owns 589,867 shares of the utilities provider's stock valued at $24,332,000 after buying an additional 418,906 shares in the last quarter. 71.84% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

OGE has been the topic of several research reports. Barclays upgraded shares of OGE Energy from an "equal weight" rating to an "overweight" rating and upped their price target for the stock from $45.00 to $47.00 in a research report on Thursday, June 5th. LADENBURG THALM/SH SH upgraded shares of OGE Energy to a "hold" rating in a research report on Friday, May 9th. Argus raised shares of OGE Energy from a "hold" rating to a "buy" rating and set a $47.00 price target for the company in a report on Friday, April 11th. Finally, Wells Fargo & Company upped their price objective on OGE Energy from $46.00 to $47.00 and gave the stock an "equal weight" rating in a report on Thursday, May 1st. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $46.80.

OGE Energy Trading Up 0.3%

Shares of OGE traded up $0.13 on Thursday, reaching $44.32. 100,224 shares of the company's stock were exchanged, compared to its average volume of 1,119,538. OGE Energy Corp. has a 12 month low of $34.84 and a 12 month high of $46.91. The stock has a market capitalization of $8.92 billion, a P/E ratio of 20.15, a price-to-earnings-growth ratio of 3.30 and a beta of 0.59. The company has a current ratio of 0.73, a quick ratio of 0.51 and a debt-to-equity ratio of 1.08. The business has a 50 day moving average price of $44.27 and a two-hundred day moving average price of $43.55.

OGE Energy (NYSE:OGE - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The utilities provider reported $0.31 earnings per share for the quarter, beating analysts' consensus estimates of $0.22 by $0.09. The company had revenue of $747.70 million for the quarter, compared to the consensus estimate of $695.59 million. OGE Energy had a return on equity of 9.71% and a net margin of 14.79%. The firm's quarterly revenue was up 25.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.09 EPS. Research analysts anticipate that OGE Energy Corp. will post 2.27 earnings per share for the current year.

OGE Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, July 25th. Investors of record on Monday, July 7th will be given a $0.4213 dividend. The ex-dividend date of this dividend is Monday, July 7th. This represents a $1.69 dividend on an annualized basis and a dividend yield of 3.80%. OGE Energy's dividend payout ratio is 69.42%.

Insider Activity at OGE Energy

In other OGE Energy news, VP Donnie O. Jones sold 11,351 shares of the stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of $44.06, for a total value of $500,125.06. Following the completion of the sale, the vice president now directly owns 43,932 shares in the company, valued at $1,935,643.92. This represents a 20.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider William H. Sultemeier sold 6,650 shares of the business's stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $45.54, for a total value of $302,841.00. Following the completion of the transaction, the insider now owns 72,548 shares of the company's stock, valued at $3,303,835.92. This represents a 8.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.55% of the stock is currently owned by corporate insiders.

OGE Energy Profile

OGE Energy Corp., together with its subsidiaries, operates as an energy services provider in the United States. The company generates, transmits, distributes, and sells electric energy. In addition, it provides retail electric service to approximately 896,000 customers, which covers a service area of approximately 30,000 square miles in Oklahoma and western Arkansas; and owns and operates coal-fired, natural gas-fired, wind-powered, and solar-powered generating assets.